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OpenStudy (anonymous):
Rob has $1,000.00 to invest for 3 years. He can choose either simple interest at 11% interest, or compound interest at 5.5% interest, compounded annually. Which is the better investment? A compound interest investment would be better, because Rob would earn $330.00 in compound interest. A compound interest investment would be better, because Rob would earn $174.24 in compound interest. A simple interest investment would be better, because Rob would earn $174.24 in simple interest. A simple interest investment would be better, because Rob would earn $330.00 in simple interest.
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OpenStudy (anonymous):
@Mehek14
OpenStudy (mathstudent55):
Do you know how to calculate simple interest?
OpenStudy (anonymous):
no sorry
OpenStudy (anonymous):
@mathstudent55
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